Global Phenylketonuria Therapeutics Market Set for Remarkable Growth, Forecasted to Reach USD 2.28 Billion by 2033

The global phenylketonuria therapeutics market is poised for significant expansion, with projections indicating a surge from USD 1 billion in 2023 to USD 2.28 billion by 2033. This anticipated growth reflects a robust compound annual growth rate (CAGR) of 8.6% over the forecast period, according to a recent report by Future Market Insights (FMI).

The promising forecast builds upon a positive growth trend observed in the PKU therapeutics market from 2018 to 2022. During this period, the market demonstrated a commendable CAGR of 5.2%, highlighting a steady increase in demand for effective treatments for phenylketonuria—a rare genetic metabolic disorder characterized by an inability to metabolize the amino acid phenylalanine.

Phenylketonuria inhibits the body’s ability to metabolize the amino acid phenylalanine, potentially leading to the accumulation of harmful substances. Left untreated, PKU can result in severe intellectual disabilities, convulsions, and other neurological complications.

The projected growth in the PKU therapeutics market reflects a growing awareness of this condition and the need for innovative treatment options to improve patient outcomes worldwide. Pharmaceutical companies and healthcare providers are actively engaged in research and development efforts to introduce novel therapies and enhance existing treatment protocols for PKU patients.

As the prevalence of phenylketonuria continues to rise globally, stakeholders across the healthcare sector are poised to collaborate in advancing research, expanding treatment accessibility, and ultimately, improving the quality of life for individuals affected by this condition.

Key Takeaways from the Market Study:

  • From 2018 to 2022, the phenylketonuria therapeutics market grew at a CAGR of 5.2%.
  • The global phenylketonuria therapeutics market is expected to grow with an 8.6% CAGR from 2023 to 2033.
  • As of 2033, the phenylketonuria therapeutics market is expected to reach USD 2.28 Billion.
  • According to the FMI analysis, the hospital pharmacies segment accounts for the largest market share.
  • North America is expected to possess 40% market share for the Phenylketonuria Therapeutics market.
  • The East & South Asia market is predicted to increase significantly throughout the forecast period, with a share of 20% during the forecast period.

“A series of international level collaborations involving healthcare stakeholders across various institutional settings are fuelling further clinical trials and research studies dedicated to discovering phenylketonuria therapeutics,” says an FMI analyst.

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Market Competition:

Key players in the market include companies such as Competition Deep Dive, Cigna, BioMarin Pharmaceuticals, Codexis, Inc., Erytech Pharma, SOM Innovation Biotech SL, Synthetic Biologics, Inc., Retrophin, Inc., Danone, Censa Pharmaceuticals, Homology Medicines, Inc., along with healthcare providers and technology companies among other global players.

  • In January 2023, Jnana Therapeutics was granted clearance by the FDA for its Investigational New Drug (IND) application for JNT-517, a drug being developed to treat phenylketonuria (PKU), a condition that is difficult to treat. The biotechnology company is using its advanced chemoproteomics platform to discover drugs for challenging targets.
  • The Phase 1 program of JNT-517 is currently underway in healthy volunteers in Australia, and will expand to include clinical sites in the U.S. The Phase 1b sub-study will evaluate the drug’s effectiveness in individuals with PKU, with the potential to demonstrate clinical proof of concept that supports a subsequent registrational program.

Key Segments Profiled in the Phenylketonuria Therapeutics Industry Survey:

Drug Type:

  • Kuvan
  • Playnziq

Route of Administration:

  • Oral
  • Parenteral
  • Intravenous
  • Subcutaneous

Distribution Channel:

  • Hospital Pharmacies
  • Retail Pharmacies
  • Online Pharmacies

Region:

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia
  • Oceania
  • Middle East & Africa

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

Contact Us:        

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Global Dental Practice Management Software Market to Reach USD 6.74 Billion by 2033, Driven by Rising Oral Hygiene Awareness and Digital Integration | FMI

The global dental practice management software market, valued at USD 2.54 billion in 2023, is forecasted to surge to USD 6.74 billion by 2033, reflecting a robust CAGR of 10.25% during the assessment period.

Dental practice management software is revolutionizing the way healthcare professionals manage their practices. Offering features such as automated bookkeeping, inventory management, and enhanced communication between doctors, staff, and patients, the software maximizes clinic efficiency. Its integration with advanced dental equipment, including X-ray sensors, intraoral cameras, and imagers, further enhances patient care by enabling secure electronic record-keeping.

Modern solutions operate in the cloud as Software as a Service (SaaS), allowing dentists to securely access patient data remotely while moving away from traditional paper-based systems. This digital transformation aligns with the increasing adoption of paperless digital dentistry, a trend expected to drive the market forward in the coming years.

Key Growth Drivers:

  1. Growing Awareness of Oral Hygiene: An increase in dental examinations globally, driven by heightened awareness of oral health, is boosting demand for dental management solutions.
  2. Aging Population: The rise in the elderly population susceptible to oral diseases is further propelling market growth.
  3. Seamless Online Portals: User-friendly portals for booking, payments, and data updates are enhancing patient convenience and fueling adoption.
  4. Integration of IT in Oral Healthcare: IT solutions integrated into dental services reduce clinical errors, optimize care delivery, and drive market demand.

Cloud-Based Solutions in the Spotlight:

Cloud-based dental practice management software is gaining significant traction due to its multifaceted benefits. These solutions offer functionalities such as charting, imaging, claims tracking, and automated reminders, which simplify administrative processes for dental practices. As practices increasingly adopt digital workflows, the demand for advanced software is expected to soar.

Future Outlook:

The shift towards paperless, digital dentistry and the rapid incorporation of cloud-based solutions mark a promising future for the dental practice management software market. As oral health awareness and the need for efficient clinical management continue to grow, the market is poised for sustained expansion.

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Key Takeaways from the Dental Practice Management Software:

  • The web-based segment dominated the market with a 55.6% share in 2022. This is due to its low cost, enhanced security, fast updates, and unlimited storage space. Increasing adoption of DPM software in dental practices for billing, reporting, patient records, scheduling, and treatment planning is expected to drive the growth of the segment.
  • North America leads the overall market with a 40.4% revenue share in 2022. The strategic presence of key players such as Henry Schein One & Curve Dental and baby boomers’ rapid adoption of oral care services is one of the key factors driving United States market growth. Additionally, increased funding for start-ups is likely to support market growth.
  • The European market is also expected to grow significantly due to rapid technological progress and increased purchasing power. In the 24 months to 30 June 2020, 21 million adults and 6.3 million of their children visited his NHS dentist, according to UK NHS dental statistics.
  • In 2022, the dental clinic segment was likely to be the market leader, accounting for over 47.4% of total revenue. The industry is growing due to the increasing number of dental offices using dental office management software worldwide.

Manufacturers are constantly expanding their supply chains:

The dental laser market’s competitive landscape is moderately fragmented, with a few major companies operating on a global and regional scale. Strategic alliances are being formed by key players in order to expand their respective portfolios and gain a strong foothold in the global market.

Latest Developments:

  • In June 2021, Curve Dental announced an agreement with Dental Intelligence to provide access to Dental Intelligence’s online appointment scheduling system, LocalMed. The purpose of the partnership is to make it easier for dental companies to use Curve Dental’s practice management software, which enables patients to virtually confirm appointments.
  • Henry Schein announced in May 2021 the development of axiUm Dental Software to integrate dental and medical patient records. New consistency in car modules improves electronic patient file interoperability and information exchange between dentistry and healthcare.
  • Edge Health Solution Inc. partnered with Allscripts in December 2020 to bring enterprise practice management software to her over 1,000 dentists nationwide to customize patient smiles.

Some of the Key Players Operating in Dental Practice Management Software Market Include:

  • Henry Schein, Inc.
  • Carestream Dental, LLC
  • DentiMax
  • Practice-Web, Inc.
  • Nextgen Healthcare, Inc.
  • ACE Dental Software
  • Datacon Dental Systems, Inc.
  • CareStack (Good Methods Global Inc.)
  • CD Nevco, LLC (Curve Dental)
  • Dentiflow

Key Segments Covered in the Dental Practice Management Software Market Report:

Deployment Mode Outlook:

  • On-premise
  • Web-based
  • Cloud-based

Application Outlook:

  • Patient Communication
  • Invoice/Billing
  • Payment Processing
  • Insurance Management
  • Others

End-use Outlook:

  • Dental Clinics
  • Hospitals
  • Others

By Region:

  • North America
  • Latin America
  • Western Europe
  • Eastern Europe
  • Asia Pacific excluding Japan (APEJ)
  • Japan
  • Middle East & Africa (MEA)

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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T: +1-347-918-3531
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Website: https://www.futuremarketinsights.com
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Global Bioprocess Validation Market to Witness Robust Growth with a 9.20% CAGR through 2033

According to the latest market analysis by FMI, the global bioprocess validation market is poised for significant growth, reflecting a robust compound annual growth rate (CAGR) of 9.20% from 2023 to 2033. The market, valued at USD 449.03 million in 2023, is projected to more than double, reaching a valuation of USD 996.29 million by 2033.

Bioprocess validation, a critical component in ensuring the safety, efficacy, and consistency of biopharmaceutical products, continues to gain traction as the global healthcare and biotechnology sectors expand. The increasing adoption of biopharmaceuticals, stringent regulatory requirements, and advancements in bioprocessing technologies are driving the market’s upward trajectory.

Key factors influencing this growth include:

  • Rising Demand for Biologics: With the growing prevalence of chronic diseases, biologic drugs are witnessing heightened demand, fueling the need for bioprocess validation.
  • Regulatory Push: Regulatory bodies worldwide are emphasizing stringent validation protocols to ensure product quality and compliance.
  • Technological Advancements: Innovations in single-use technologies and automation are enhancing the efficiency of bioprocess validation.

The market’s potential is attracting significant investments from biopharmaceutical companies and research organizations seeking to streamline their production processes and adhere to global standards.

Market Outlook:

The bioprocess validation market is expected to play a pivotal role in shaping the future of the biopharmaceutical industry, ensuring that innovative therapies reach patients with the highest quality standards.

The United States Market:

The bioprocess validation market in the United States is driven by the increasing demand for biologics and biosimilars. The market involves the validation of various bioprocesses used in the pharmaceutical, biotechnology, and life sciences industries, including validation of manufacturing processes, analytical methods, and cleaning procedures.

Recently, the United States Food and Drug Administration (FDA) has placed greater emphasis on the importance of bioprocess validation in ensuring the safety and efficacy of biologics and biosimilars. This has led to increased demand for bioprocess validation services and products in the United States.

The United Kingdom Market

The rising demand for biologics as well as biosimilars in the biomedical and pharmaceutical sectors, the United Kingdom market for bioprocess validation is expanding steadily.

The United Kingdom is home to numerous biopharmaceutical companies and research institutions that are actively engaged in developing new biologics and biosimilars. These companies require reliable and efficient bioprocess validation techniques to ensure the quality and safety of their products.

One of the significant factors driving the growth of the market in the United Kingdom is the increasing focus on regulatory compliance and quality control in the industry.

The United Kingdom’s regulatory authority, the medicines and healthcare products regulatory agency (MHRA) has set strict guidelines and regulations for the manufacturing and validation of biopharmaceutical products, which has led to increased demand for bioprocess validation services and products.

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Here are Some Key Takeaways for the Market:

  • The market is driven by the increasing demand for biologics and biosimilars, as well as the growing emphasis on regulatory compliance and quality control in the industry.
  • The global bioprocess validation market is expected to record a CAGR of 9.20% from 2023 to 2033 to reach USD 996.29 million by 2033.
  • The United States and the United Kingdom are two significant markets for bioprocess validation, with significant growth potential due to the increasing demand for biologics and biosimilars.
  • The bioprocess validation market size is anticipated to reach a valuation of USD 449.03 million in 2023.

Competitive Background:

The key players operating in the market are investing in mergers and acquisitions in order to gain a significant market share. The manufacturers are also investing in research and development, and are introducing innovative methods to boost production capacity. Product development and market expansion are significant aspects of the market. As a result, market participants are likely to have a better overall revenue share in the global market.

Prominent Key Players

  • Thermo Fisher Scientific Inc.
  • Sartorius AG
  • Eurofins Scientific, Inc.
  • Merck KGaA
  • Lonza
  • Danaher Corporation
  • SGS S.A.
  • Charles River Laboratories
  • Toxikon Corporation
  • Cobetter Filtration Equipment Co., Ltd.

Bioprocess Validation Market by Category

By Testing Type:

  • Extractables & Leachables Testing
  • Bioprocess Residuals Testing
  • Viral Clearance Testing
  • Filtration & Fermentation Systems Testing
  • Others

By Stage:

  • Process Design
  • Process Qualification
  • Continued Process Verification

By Mode:

  • In House
  • Outsourced

By Region:

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia
  • Oceania
  • The Middle East & Africa

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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Future Market Insights Inc.
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Suite 401, Newark, Delaware – 19713, USA
T: +1-347-918-3531
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Website: https://www.futuremarketinsights.com
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Global Molybdenum Cofactor Deficiency Type-A (MoCoD-A) Treatment Market to reach USD 89.96 million by 2033: FMI Report

The global molybdenum cofactor deficiency type-A (MoCoD-A) treatment market is poised for robust growth, with market valuation projected to increase from USD 28.96 million in 2023 to USD 89.96 million by 2033, at an impressive compound annual growth rate (CAGR) of 12% during the forecast period. This surge highlights the pivotal role of advancing scientific understanding and technological innovation in addressing this rare genetic disorder.

MoCoD-A, a life-threatening metabolic disorder, has long presented significant treatment challenges due to its complex underlying biology. However, the market’s recent growth is attributed to strides in the fields of genetic research and precision medicine, enabling targeted therapeutic approaches that significantly improve patient outcomes.

Historical Growth and Future Outlook:

The market has already demonstrated steady progress, growing at a CAGR of 7.5% between 2018 and 2022. This foundational growth was fueled by increased awareness of the condition, improved diagnostic techniques, and the development of novel therapeutic solutions.

Looking forward, the market’s trajectory is further bolstered by:

  • Enhanced Comprehension of MoCoD-A Biology: Ongoing research has deepened understanding of the disease’s genetic and molecular basis, paving the way for innovative therapies.
  • Advances in Precision Medicine: Customized treatments tailored to individual genetic profiles are emerging as game-changers, offering hope to patients and families.
  • Rising Healthcare Investments: Global healthcare systems are prioritizing research and development efforts to address rare diseases like MoCoD-A.

Opportunities and Challenges:

While the market holds significant promise, challenges such as high treatment costs and limited patient access in certain regions remain barriers to growth. Collaborative efforts among industry players, research institutions, and policymakers will be critical in overcoming these hurdles and ensuring equitable access to cutting-edge treatments.

The molybdenum cofactor deficiency type-A (MoCoD-A) treatment market is entering a transformative era, marked by scientific breakthroughs and a patient-centric approach. As the global healthcare landscape continues to prioritize rare disease management, the MoCoD-A treatment market is set to make meaningful strides in improving the lives of those affected.

Key Takeaways from the Market Study:

  • Global MoCoD-A treatment market is expected to grow with a 12% CAGR from 2023 to 2033.
  • By distribution channel, hospital pharmacies are expected to hold 46% of the market share in 2023
  • North America is expected to possess 45% market share for MoCoD-A treatment in 2023.
  • Europe MoCoD-A treatment to possess 38% market share in 2023.

“Development in gene therapies along with advancements in technology is innovating medications for MoCoD-A. This, in turn, is favoring the growth of the market,” states an FMI analyst.

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Competitive Landscape:

Key players in the molybdenum cofactor deficiency type-A (MoCoD-A) treatment market are BridgeBio Pharma, Origin Biosciences, Orphatech Pharmaceuticals, GmbH, Bayer, Agios Pharma, Daiichi Sankyo, Ohm Oncology, Aslan Pharmaceuticals, Pfizer, Inc. and Sun Pharmaceutical Industries Ltd.

  • Orphatech Pharmaceuticals has developed a drug candidate called ORP-101, which is a gene therapy designed to treat MoCoD-A. The therapy involves the delivery of a functional copy of the MOCS1 gene, which is mutated in individuals with MoCoD-A. By restoring the function of this gene, ORP-101 can potentially correct the underlying cause of the disease and prevent its progression.
  • BridgeBio Pharma, a key player in the market for molybdenum cofactor deficiency type-A (MoCoD-A) treatment is investing in research and development for the ailment.

Key Segments Profiled in the Molybdenum Cofactor Deficiency Type-A (MoCoD-A) Treatment Industry Survey:

Drug Class:

  • Sulfocysteine
  • Fosdenopterin
  • Pyridoxine

Route of Administration:

  • Oral
  • Parenteral
  • Subcutaneous
  • Topical

Distribution Channel:

  • Hospital Pharmacy
  • Retail Pharmacy
  • Online Pharmacy

Region:

  • North America
  • Latin America
  • Europe
  • South Asia
  • East Asia
  • Oceania
  • Middle East & Africa

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

Contact Us:        

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-347-918-3531
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
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Global Optic Neuropathy Management Market Set for Remarkable Growth to Surge to USD 7 Billion by 2033 registering a CAGR of 5%

The global optic neuropathy management market is on a trajectory for substantial expansion, with forecasts suggesting a rise from USD 4.3 billion in 2023 to a remarkable USD 7 billion by 2033. This growth represents a robust compound annual growth rate (CAGR) of 5%, a notable increase from the 3.2% CAGR observed between 2018 and 2022.

Optic neuropathy, a serious condition that significantly impairs vision, can arise from a variety of causes, including diabetes, multiple sclerosis, glaucoma, trauma, infection, and genetic factors. As these underlying health conditions become more prevalent—particularly among the aging global population—the incidence of optic neuropathy is also rising.

As the demographic of older individuals expands, the demand for innovative and effective optic neuropathy treatments is set to rise. This demographic shift is a key driver of market growth, highlighting the urgent need for advancements in the management of this debilitating condition.

The market’s strong growth trajectory underscores the importance of continued research and development in optic neuropathy treatments, as well as the need for healthcare systems worldwide to prepare for increasing patient needs.

Key Takeaways from the Market Study:

  • From 2018 to 2022, the optic neuropathy management market grew at a CAGR of 3.2%.
  • The global optic neuropathy management market is expected to grow with a 5% CAGR from 2023 to 2033.
  • As of 2033, the optic neuropathy management market is expected to reach USD 7 Billion.
  • According to the FMI analysis, the hospital pharmacies segment accounts for the largest market share.
  • North America is expected to possess a 40% market share with respect to optic neuropathy management
  • East & South Asia to collectively account for 1/5th of all optic neuropathy management procedures

“A series of international level collaborations involving healthcare stakeholders across various institutional settings are fuelling further clinical trials and research studies dedicated to discovering optic neuropathy management,” says an FMI analyst

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Market Competition:

Key players in the market include companies such as Competition Deep Dive, AbbVie Inc., Eli Lily Company, GlaxoSmithKline, Pfizer Inc., Teva Pharmaceuticals, Bausch Health Companies Inc., F. Hoffmann-La Roche AG, Bayer AG, Sanofi A.S., Bristol-Myers Squibb and Company, along with healthcare providers and technology companies among other global players.

  • In March 2023, Horizon Therapeutics plc released the findings of a study analyzing the real-world use of teprotumumab-trbw (Tepezza, Horizon Therapeutics) in treating Thyroid Eye Disease (TED) patients with dysthyroid optic neuropathy (DON).
  • The study included a majority of patients who had previously not responded to other treatments. DON is a complication of TED that can result in vision loss due to the impairment of visual function caused by thyroid-related optic nerve compression. Teprotumumab-trbw is the only FDA-approved medication for treating TED, which is a rare autoimmune disease that is serious, progressive, and potentially vision-threatening.

Key Segments Profiled in the Optic Neuropathy Management Industry Survey:

Drug Class:

  • Corticosteroids
  • Antimetabolites
  • Anticoagulants
  • Serotonin and Norepinephrine Reuptake Inhibitors
  • Nonsteroidal Anti-Inflammatory Drugs

Route of Administration:

  • Oral
  • Injectable

Distribution Channel:

  • Hospital Pharmacies
  • Retail Pharmacies
  • Online Pharmacies
  • Drug Stores

Region:

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia
  • Oceania
  • Middle East & Africa

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

Contact Us:        

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-347-918-3531
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
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Global Isocitrate Dehydrogenase (IDH) Inhibitors Market Set to Skyrocket, Reaching USD 39.16 Billion by 2033: FMI Study

The global isocitrate dehydrogenase (IDH) inhibitors market is poised for extraordinary growth, with a market value of USD 2.26 billion in 2023 projected to surge to a staggering USD 39.16 billion by 2033, marking a robust compound annual growth rate (CAGR) of 33% over the forecast period.

Additionally, the development of more potent and selective IDH inhibitors, as well as the expansion of their use into other cancer types, is expected to further contribute to the growth of the market. Bayer and Agios Pharmaceuticals are among the key players in the IDH inhibitors market, with their respective drugs BAY 1436032 and ivosidenib being approved by the US FDA for the treatment of IDH-mutated cancers. These drugs have shown promising results in clinical trials, including high response rates and extended survival in patients with AML.

The IDH inhibitors market is a rapidly growing field with significant potential for the treatment of several types of cancer. Continued research and development efforts, as well as the development of new drugs and treatment strategies, are expected to contribute to the growth of the market.

Key Takeaways from the Market Study:

  • The global Isocitrate dehydrogenase (IDH) inhibitors market is expected to grow with a 33% CAGR during 2023 to 2033.
  • Oral route of administration is expected to hold 49% of the market share in 2023 for Isocitrate dehydrogenase (IDH) inhibitors market.
  • North America is expected to possess 46% market share for Isocitrate dehydrogenase (IDH) inhibitors market in 2023.
  • Europe Isocitrate dehydrogenase (IDH) inhibitors market size is expected to possess 43% market share in 2023.

“The development of combination therapies and alternative treatment strategies is being explored to further optimize the clinical benefit of IDH inhibitors. This, in turn, is fueling the growth of IDH inhibitors market.” states an FMI analyst

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Competitive Landscape:

Key players in the isocitrate dehydrogenase (IDH) inhibitors market are Bayer, Agios Pharma, Daiichi Sankyo, Ohm Oncology, Celgene, Philogen S.p.A., Tragara, Aslan Pharmaceuticals, Pfizer, Inc. and Sun Pharmaceutical Industries Ltd.

  • Bayer is collaborating with other pharmaceutical companies, such as Agios Pharmaceuticals, in the development of IDH inhibitors. The two companies have a joint development and commercialization agreement for ivosidenib (AG-120), an oral small molecule inhibitor of the mutated IDH1 enzyme, which has been approved by the US FDA for the treatment of relapsed or refractory acute myeloid leukemia (AML) with an IDH1 mutation.
  • Agios’ Pharma lead IDH inhibitor candidate is ivosidenib (AG-120), an oral small molecule inhibitor of the mutated IDH1 enzyme. Ivosidenib works by inhibiting the production of the oncometabolite 2-hydroxyglutarate (2-HG) and inducing differentiation of leukemia cells. Ivosidenib has been approved by the US FDA for the treatment of relapsed or refractory acute myeloid leukemia (AML) with an IDH1 mutation.

Key Segments Profiled in the Isocitrate Dehydrogenase (IDH) Inhibitors Industry Survey

Type:

  • IDH1 Mutant Medullary Malignant Tumor
  • IDH2 Mutant Medullary Malignant Tumor
  • Peptides
  • Small Molecule
  • Others

Molecule Types:

  • Monoclonal Antibody
  • Peptides
  • Small Molecules
  • Others

Route of Administration:

  • Oral
  • Parenteral
  • Subcutaneous

Region:

  • North America
  • Latin America
  • Europe
  • South Asia
  • East Asia
  • Oceania
  • Middle East & Africa

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

Contact Us:        

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-347-918-3531
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
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Global Lumbosacral Radicular Pain Management Market Poised for Robust Growth, Expected to Reach USD 1.4 Billion by 2033: FMI Study

The global lumbosacral radicular pain management market is set to witness significant growth, reaching a valuation of USD 1.4 billion by 2033. This represents a steady CAGR of 5% during the forecast period from 2023 to 2033. In 2023, the market is projected to achieve a valuation of USD 0.9 billion, showcasing the sector’s growing prominence in addressing chronic pain conditions.

Historically, the market demonstrated a CAGR of 3.2% between 2018 and 2022, underlining consistent demand for innovative solutions to manage lumbosacral radicular pain, a condition that affects millions worldwide. With advancements in medical technology, an increased focus on pain management therapies, and growing awareness of available treatment options, the market is anticipated to accelerate its growth trajectory over the next decade.

The increasing prevalence of back pain is one of the primary drivers of the lumbosacral radicular pain management market. Back pain is a common health problem that affects people of all ages and can be caused by a variety of factors, including poor posture, spinal disc degeneration, and muscle strains.

According to the American Chiropractic Association, back pain is one of the leading causes of disability worldwide, and it is estimated that 80% of people will experience back pain at some point in their lives. This high prevalence of back pain has led to increased demand for effective treatments and therapies for lumbosacral radicular pain management.

Advancements in medical technologies have also contributed to the growth of the lumbosacral radicular pain management market. There have been significant developments in the field of pain management in recent years, with the introduction of new treatments and technologies, such as spinal cord stimulation, radiofrequency ablation, and minimally invasive surgery.

These advancements have enabled healthcare providers to offer more effective and less invasive treatments for lumbosacral radicular pain management, which can help to reduce patient discomfort and recovery time.

Growing patient awareness about the available treatment options is also driving the growth of the lumbosacral radicular pain management market. Patients are increasingly seeking out effective and minimally invasive treatments for their pain, and healthcare providers are responding by offering a range of treatment options to meet their needs.

Key Takeaways from the Market Study:

  • From 2018 to 2022, the Lumbosacral Radicular Pain Management market grew at a CAGR of 3.2%.
  • The global Lumbosacral Radicular Pain Management market is expected to grow with a 5% CAGR during 2023 to 2033.
  • As of 2033, the Lumbosacral Radicular Pain Management Market is expected to reach USD 1.4 Billion.
  • According to the FMI analysis, the hospital pharmacies segment accounts for the largest market share.
  • North America is expected to possess 40% market share for the Lumbosacral Radicular Pain Management market.
  • The East & South Asia market is predicted to increase significantly throughout the forecast period, with a share of 20% during the forecast period.

“A series of international level collaborations involving healthcare stakeholders across various institutional settings are fueling further clinical trials and research studies dedicated to discovering Lumbosacral Radicular Pain Management.” says an FMI analyst

High Demand for Market Insights: Discover Comprehensive Trends in Our Full Report!

Market Competition:

Key players in the market include companies such as Competition Deep Dive, Semnur Pharmaceuticals, Inc., Eliem Therapeutics, Forest Laboratories, Medtronic Spinal and Biologics, Teva Pharmaceutical, 3M Company, Ultradent Products Inc., Nobel Biocare Holdings AG, Eli Lilly & Company, along with healthcare providers and technology companies among other global players.

  • Researchers at the University of New South Wales (UNSW) Sydney and Neuroscience Research Australia (NeuRA) have developed a therapy that focuses on retraining the communication between the back and the brain. In a randomized controlled trial, the treatment was found to be effective in improving chronic back pain. The study, published in the Journal of the American Medical Association, was funded by the Australian National Health and Medical Research Council (NHMRC) and conducted at NeuRA.
  • The promising results of this study offer a new avenue for treating chronic back pain and improving the quality of life for those who suffer from it. The study was conducted by several universities across Australia and Europe and is a significant breakthrough in the field of pain management. In conclusion, the development of a new therapy for chronic back pain that focuses on retraining the communication between the back and the brain offers hope for millions of people worldwide. The randomized controlled trial conducted by researchers at the University of New South Wales (UNSW) Sydney and Neuroscience Research Australia (NeuRA) demonstrated the effectiveness of this treatment in improving chronic back pain.

Key Segments Profiled in the Lumbosacral Radicular Pain Management Industry Survey:

Drug Class:

  • Cyclobenzaprine
  • Oxycodone
  • Tramadol
  • Gabapentin

Route of Administration:

  • Oral
  • Topical

End-User:

  • Hospital Pharmacy
  • Retail Pharmacy
  • Online Pharmacy

Region:

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia
  • Oceania
  • Middle East & Africa

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

Contact Us:        

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-347-918-3531
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
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Egg Substitute Market: Plant-Based Alternatives Gaining Traction

Egg Substitute Market
Egg Substitute Market

The global egg substitute market size is projected to surpass a valuation of US$ 1,169 Million in 2023. It is estimated to reach a valuation of US$ 2,472.6 Million by 2033. During the forecast period from 2023 to 2033, the market is expected to record an astounding CAGR of 8%.

Egg substitutes contain ample vitamins such as Vitamin B12 and Vitamin A, similar to regular eggs. Additionally, they are gluten-free and cholesterol-free. This market is growing as a result of increasing consumer awareness of the nutritional benefits of egg substitutes and their predisposition to eating healthy cuisine. Due to the scarcity of eggs, the global market for egg substitutes is anticipated to expand significantly over the coming years.

In the upcoming years, this market’s growth may also be aided by the rising demand for vegetable ingredients and high egg prices.

North America is anticipated to hold dominance during the forecast period. Consumers are being compelled to adopt a healthy lifestyle due to the rising prevalence of health problems like diabetes, blood pressure, and obesity. They are opting for products that are plant-based, gluten-free, and non-GMO. In response to this demand, manufacturers are developing and launching products that are gluten and GMO-free.

The increasing research and development activities by the key players present in the region are expected to amplify the North American egg substitute market’s growth potential.

Key Takeaways:

  • In 2018, the global egg substitute market size stood at US$ 984.5 Million.
  • The market size stood at US$ 1,123.60 Million in 2022.
  • The market size increased at a CAGR of 3.4% from 2018 to 2022.
  • The dry segment under form captured 72.40% market share in 2022.
  • In 2022, the animal-based source segment captured 36.70% market share.
  • The dairy protein segment under ingredients accounted for 37.80% market share in 2022.
  • In 2022, the bakery & confectionery segment occupied 34.60% of the market share worldwide.
  • The United States egg substitute market accounted for 29.0% of the total market share in 2022.
  • The United Kingdom egg substitute market captured a 6.0% market share in 2022.
  • In 2022, India’s egg substitute market accounted for 3.6% of the global market share.

Recent Developments Observed by FMI:

  • In October 2022, AcreMade introduced Plant-based Egg Substitute, a product that replaces eggs by using yellow field peas, a component of PURIS. This powder is intended for baking or scrambling and is shelf-stable.
  • In November 2022, Nestle’ introduced a new plant-based egg substitute in Latin America; the first batch of this product is manufactured from recycled peas. The new shelf-stable plant-based protein powder blends go well with egg dishes without sacrificing nutrition or price.
  • In February 2022, Plant-B introduced a brand-new liquid vegan egg alternative based on Lupin. The company asserts that its egg substitutes have 50% few calories while yet being equal to regular eggs.
  • In March 2021, Evo Foods introduced the first liquid vegan egg alternative in Asia. The business asserts that its egg substitutes have higher protein content than regular eggs.

Key Players:

  • Cargill Inc.
  • DuPont Nutrition & Health
  • Kerry Group
  • Glambia Plc.
  • Tate and Lyle and Ingredion Inc.
  • Corbion Puratos
  • Danone Nutricia
  • Flordia Food Products LLC
  • FIberstar Inc.
  • MGP Ingredients

Market Segmentation:

By Form:

  • Dry
  • Liquid

By Source:

  • Plant
  • Animal

By Ingredient:

  • Dairy Proteins
  • Starch
  • Algal Flour
  • Soy-based Products

By Application:

  • Bakery & Confectionery
  • Savories
  • Sauces
  • Dressings & Spreads

By Distribution Channel:

  • Convenience Stores
  • Hypermarkets
  • Departmental Stores
  • Others

By Region:

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • The Middle East & Africa

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

Contact Us:

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-347-918-3531
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
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Butter Flavor Market Forecast: Applications in Food and Beverage Innovation

Butter Flavor Market
Butter Flavor Market

The global butter flavor market value is poised for substantial growth, projected to reach a valuation of US$ 569.4 million by 2033 from US$ 288 million in 2023, with a robust CAGR of 7% during the forecast period. This growth is fueled by evolving consumer preferences towards healthier food options and the increasing adoption of plant-based diets worldwide.

Butter flavor, renowned for its rich, creamy taste, is witnessing heightened demand across various culinary applications. It serves as a versatile ingredient, allowing consumers to enjoy the flavor of butter while reducing fat and calorie intake, aligning with the rising health consciousness among global consumers. The market also benefits from the surge in veganism, where butter flavor offers a dairy-free alternative in plant-based products.

Impact of Culinary Trends:

The food and beverage industry’s pursuit of innovative flavors and product differentiation is propelling the butter flavor market forward. Manufacturers are continuously launching new butter-flavored variants and enhancing existing products to cater to diverse consumer preferences. This includes applications in baked goods, confectionery, savory snacks, and dairy alternatives, reflecting the market’s versatility and adaptability.

Challenges and Opportunities:

Despite its growth trajectory, regulatory changes and consumer preferences towards natural flavors pose challenges to the market. Manufacturers are responding by innovating with clean-label products and organic butter flavors to meet increasing consumer demand for healthier and more sustainable options. Such strategic adaptations are crucial for sustaining growth amidst evolving market dynamics.

Regional Insights:

Europe leads the global butter flavor market with a significant share, driven by its strong dairy industry and consumer penchant for gourmet and innovative food products. North America follows closely, buoyed by the popularity of butter-flavored products in the mainstream food service and retail sectors. These regions continue to be pivotal in shaping market trends and expanding product offerings.

Competitive Landscape and Innovations:

Key players in the butter flavor market, including Butter Buds Inc., The Edlong Corporation, and International Flavors and Fragrances, are focusing on product innovation and strategic collaborations to maintain market dominance. Innovations such as sugar-free variants and organic formulations are gaining traction, catering to the growing demand for healthier food choices.

Recent Developments Observed by FMI

  • In April 2023, Omsco launched Grass Roots Dairy Co. branded range with a delicious new organic salted butter. The new butter is made from 100% organic cream. Omsco Members support biodiversity by practicing truly regenerative, low-impact farming, and by enhancing the inherent goodness and fertility of their soils by utilizing only natural fertilizers.
  • In February 2023, Häagen-Dazs launched their innovation, ‘the Butter Cookie Cone.’ According to the company, it has all the qualities of a typical butter cookie prepared with butter, sugar, and flour. The cone is coated with thick chocolate inside and filled with four of the most popular flavors from the company: vanilla, strawberry, chocolate, and coffee.
  • In February 2023, Kagome USA launched a new range of plant-based butter blends for the United States market. The savory selections include Miso Ginger Chipotle & Sun-Dried Tomato, as well as the sweet flavors of Hot Honey, and Cinnamon & Brown Sugar. They work as a 1:1 replacement for regular butter and offer considerable health advantages, such as being free of cholesterol and lower in saturated fat, claims Kagome.
  • In September 2022, New lactic acid bacteria have been developed by Danish researchers at the DTU National Food Institute. It generate a natural butter flavor ideal for use in dairy products and plant-based food analogs.
  • GATSBY, which debuted in June 2021, just underwent a rebranding and formulation, and two additional chocolate products-Peanut Butter Cups and Sea Salt Extra Dark-were also made available. Allulose, a naturally occurring sweetener, is used to make the low-calorie, low-sugar chocolates created by GATSBY. Each serving of both new products has only 2 grams of sugar. The vegan Sea Salt Extra Dark chocolate bar contains only 60 calories per serving, compared to the new Peanut Butter Cups’ 50 calories per cup.

Key Players in the Global Market

  • Butter Buds Inc.
  • DairyChem Inc.
  • The Tatua Co-operative Dairy Company Limited
  • H.B. Taylor CO.
  • The Edlong Corporation
  • Blue Pacific Flavors
  • Comax FLavours
  • Firmenich Incorporated
  • International Flavors and Fragrances
  • Others

Market Segmentation

By Form:

  • Liquid Form
  • Powder Form

By Nature:

  • Natural
  • Organic
  • Artificial

By Product Type:

  • Vegan
  • Dairy-based Flavors

By End-use Application:

  • Baked Goods
  • Savoury
    • Soups, Sauces, Condiments
    • Prepared Food & Ready Meals
    • Meat Poultry & Seafood
    • Seasoning Blends
    • Savoury Snacks
  • Dairy Products
    • Vegan Milk
    • Hot Chocolate
    • Ice Cream & Desserts
    • Yogurt
    • Flavored Milk
    • Spreads
    • Other Dairy Products (Cream, Buttermilk)
  • Dry Beverage Mix
    • Instant Coffee
    • Cocoa
    • Protein Blends
  • Confectionery
  • Dry Mixes (Pancakes, Waffles, Muffins)
  • Meal Replacers
  • Microwave Popcorn
  • Margarine
  • Snack Food
  • Breakfast Cereal
  • Dietary Supplements
  • Sports Nutrition

By Region:

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia
  • Oceania
  • The Middle East & Africa (MEA)

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

Contact Us:

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-347-918-3531
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
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Pet Food Ingredients Market: Growth Driven by Health and Nutrition Trends

The global market for pet food ingredients value is estimated to be worth USD 44,267.8 million by 2024. It is projected to reach USD 71,423.8 million by 2034, reflecting a CAGR of 4.9% over the assessment period 2024 to 2034.

The ingredients employed in the production of pet foods all over the globe are a key segment in the overall pet care market as they coordinate and sustain the health of pets across the world.

The surge in pet ownership, particularly among millennials, senior citizens, and single-member households, is a primary catalyst driving the pet food ingredients industry. This trend is influencing the demand for both essential and luxury pet products, including treats, toys, and specialized food items.

Manufacturers are responding to consumer preferences by introducing a diverse range of products that emphasize organic and natural ingredients. Products free from synthetic hormones, antibiotics, harmful pesticides, artificial colors, preservatives, or flavors are gaining popularity. Notably, brands like Kroger are meeting this demand with offerings such as vegetarian and high-protein pet diets that are entirely natural.

Regulatory Considerations

The use of preservatives in pet food, such as parabens, is regulated by agencies like the USA Food and Drug Administration (FDA). Concerns have arisen regarding the potential health impacts of these substances, particularly their effects on the reproductive, nervous, and developmental systems of animals. As a result, there is growing awareness among consumers about the presence of endocrine-disrupting chemicals (EDCs) and heavy metals in pet food, which may impact sales of products containing such ingredients.

Innovations and Trends

Research and development efforts in pet food ingredients are focusing on enhancing product safety and efficacy. Consumers are increasingly seeking pet food products that offer convenience without compromising on quality. Innovations in packaging and formulation are driving the development of appealing products that meet these criteria.

Challenges and Opportunities

Despite the positive growth trajectory, challenges such as regulatory scrutiny and consumer awareness about ingredient safety remain. Manufacturers are navigating these challenges by investing in research to develop safer and more effective pet food ingredients.

“Over time, dog adoption has considerably escalated, especially in industrialized and developing countries. Need for pet food is predicted to surge quickly, which would benefit the market for pet food ingredients. Another element driving the market is increasing demand for premium dog food, which is supported by high maintenance costs,” says a lead analyst at Future Market Insights.

Competition Landscape: Pet Food Ingredients

The global market for pet food ingredients is extremely competitive due to the fact that big pet food manufacturers are continually broadening their product offerings. They are using a wide variety of organic and inorganic strategies, including alliances, mergers, new product launches, construction of novel manufacturing facilities, and bolstering of distribution networks, to enhance their global footprint.

Pet Food Ingredients Market Outlook by Category

By Ingredient Type:

  • Starches
    • Maize/Corn
    • Tapioca
    • Potato
    • Wheat
    • Rice
    • Whole Grains
    • Fruits and Vegetables
    • Seeds and Legumes
  • Dietary Fiber
    • Wheat
    • Rice
    • Bran
    • Potato
    • Legumes
    • Oats
    • Inulin
    • Nuts and Chicory Root
  • Fruit Ingredients
    • Apple
    • Cranberry
    • Blueberry
    • Other Fruit Ingredients
  • Protein
    • Sugar
    • Fructo-Oligosaccharides
    • Manna-oligosaccharide
    • Sorbitol
    • Propylene Glycol
    • Glycerol

By Animal Type:

  • Dogs
  • Cats
  • Birds
  • Others

By Nature:

  • Organic Pet Food Ingredients
  • Conventional Pet Food Ingredients

By Product Type:

  • Wet Food
  • Dry Food
  • Treats and Chews
  • Other Product Types (Frozen Food, Raw Food)

By Distribution Channel:

  • Online
  • Offline

By Region:

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia
  • Oceania
  • Middle East & Africa

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

Contact Us:

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-347-918-3531
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube